The back and forth of styrenics prices in Europe continued in October. While premiums had to be paid in the previous month, prices declined again. This was mainly due to the downward correction of the styrene monomer reference.

Discounts on PS did not always reach the full extent of the cost reduction. Those few suppliers not fully able to deliver could better defend their price expectations. European suppliers continued to feel the pressure from bargain imports from Asia.

The styrene monomer contract continued to erode in November – the new reference was fixed lower at €170/t ($192). Styrenics will experience a further decline, which is expected to create a buying opportunity for processors.